Showing 1 - 10 of 10
Following the extra ordinary decision to bail in the unsecured depositors and restructure the two main banks and the near complete destruction of the country’s economic business model as an International Financial Centre, the author considers the changes necessary to rebuild the economy of...
Persistent link: https://www.econbiz.de/10009745997
Following the extra ordinary decision to bail in the unsecured depositors and restructure the two main banks and the near complete destruction of the country's economic business model as an International Financial Centre, the author considers the changes necessary to rebuild the economy of...
Persistent link: https://www.econbiz.de/10013082588
The article discusses the enormous private debt in Cyprus and how it impacts the conditions for economic recovery. It stresses the need more drastic and decisive action from the Government including the participation of international multilateral financiers in reconstructing and funding viable...
Persistent link: https://www.econbiz.de/10012903302
Private sector indebtedness in Cyprus remains extremely high. Yet the Government and the banks in Cyprus continue to define the problem as being the non-performing loans (NPLs) and the proposed solution as being any tools and legislation which will improve repayment but also enable the banks to...
Persistent link: https://www.econbiz.de/10012899432
The paper draws on previous research on the role of Multilateral Development Banks (MDBs), Regional Development Banks (RDBs) and National Development Banks (NDBs). It examines the role of the Cyprus Development Bank (CDB), prior its privatisation in 2008, in the economic development of the...
Persistent link: https://www.econbiz.de/10012860271
Following the severe financial crisis of 2012/2013 and the subsequent contraction of the Cyprus economy, the authors consider the policies and institutional changes required to regenerate economic growth. It is argued that the crisis emanated largely from the wasteful use of investable funds...
Persistent link: https://www.econbiz.de/10012991410
The Government has facilitated and protected the banks on a stand and motto that “without banks there is no economy”. However, eight years after the financial crisis that culminated to the infamous Bail-In in Cyprus the country remains heavily indebted with private debt exceeding by at least...
Persistent link: https://www.econbiz.de/10013322510
Persistent link: https://www.econbiz.de/10012403890
Persistent link: https://www.econbiz.de/10011658841
The author has written two articles on the subject of “the Deal” sought and negotiated by the Government for privatising the ailing Co-Op Bank in Cyprus. In this paper he continues with “Socialising the losses and privatising the gains - Part 3” which provides an alternative proposal...
Persistent link: https://www.econbiz.de/10012915771